C...this is the Idealab!/FSVP relationship as laid out a couple months back:
(COMTEX) B: FIND/SVP Signs Collaboration Agreement With idealab! To D
B: FIND/SVP Signs Collaboration Agreement With idealab! To Develop Find.com
Portal Site
NEW YORK, NY, Jan 19, 2000 (INTERNET WIRE via COMTEX) -- FIND/SVP,
Inc. (NASDAQ: FSVP) the business advisory and research service, today
announced that it has signed a collaboration agreement to develop
find.com, a new Internet site that will contain search engine
technology, content and features.
As part of the collaboration agreement, FIND/SVP is also assigning the
domain name find.com and licensing the use of certain rights to the
trademark "FIND" to a new company, Find.com, Inc., a wholly-owned
subsidiary of idealab!. A leading creator and operator of Internet
businesses, idealab! will develop the find.com site. The front page of
the find.com site will have a link to findsvp.com, which will continue
to offer business advisory and research services provided by FIND/SVP
consultants.
The agreement also anticipates that the parties will work together to
identify and jointly pursue other mutually beneficial Internet ventures
in the future and identify ways for idealab! or its affiliates to
invest in FIND/SVP.
Under the terms of the arrangement, FIND/SVP is receiving consideration
in the form of cash, stock and royalties. As an initial result of the
transaction, FIND/SVP expects to record pretax income of approximately
$1.2 million in the fourth quarter of 1999. Further details of the
agreement were not disclosed.
"We are extremely pleased that the extraordinary resources and talents
of idealab! will be used to make find.com a major consumer portal,"
said Andrew P. Garvin, president of FIND/SVP. "idealab!'s track record
of success was a key factor in concluding this agreement."
Mr. Garvin said FIND/SVP will continue its focus on developing the
business-to-business advisory services provided by its own professional
staff and the 1,000 consultants in the worldwide SVP group. Findsvp.com
provides access to the other countries in the group through links to
svp.com.
Commenting on the deal, Brigitte de Gastines, chairman of FIND/SVP and
president of SVP International, said, "Since the main mission of the
SVP group is to provide telephone and internet access to human experts
to help executives address their business issues through personalized
consultations, we felt it was appropriate to collaborate with a company
like idealab! to develop the potential of the find.com name."
About FIND/SVP FIND/SVP is a worldwide business advisory, research and
consulting service with more than 2,000 retainer client organizations
in the U.S. The Company has been helping executives make more informed
decisions since 1969 by providing access to knowledgeable professionals
who deliver cost-effective answers, solutions and guidance backed by
solid research. It is the second largest member of the global SVP
Group. Worldwide, the SVP Group serves more than 75,000 executives in
10,000 companies. FIND/SVP is located at 625 Avenue of the Americas,
New York, NY 10011. More information is available by calling
212-645-4500 or visiting FIND/SVP's Web site at findsvp.com,
or the SVP Group's site at svp.com
Certain statements and information included in this release constitute
"forward-looking statements" within the meaning of the Federal Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements include, but are not limited to, the ability to develop a
leading consumer internet portal, possible future internet ventures,
and possible future investments in FIND/SVP. These forward looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance, or
achievements expressed or implied in such forward-looking statements to
be different.
Copyright 2000 Internet Wire, All rights reserved.
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CONTACT: Andrew Garvin
President & CEO
FIND/SVP, INC
212-463-6200
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